Greif to Acquire Lee Container for $300M

Greif, Inc. (NYSE:GEF, GEF.B)), a global leader in industrial packaging products and services, today announced it has entered into a definitive agreement to acquire Lee Container Corporation, Inc. (“Lee Container” or “Lee”), an industry-leading manufacturer of high-performance barrier and conventional blow molded containers, for a purchase price of $300 million before taking into consideration tax benefits with an estimated net present value of approximately $30 million. The all-cash transaction will be funded through Greif’s existing credit facility and is expected to close by the end of the calendar year, subject to customary closing conditions, including regulatory clearances.